Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/212258 
Autor:innen: 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
Bank of Finland Research Discussion Papers No. 18/2013
Verlag: 
Bank of Finland, Helsinki
Zusammenfassung: 
Investment in physical capital at the micro level is infrequent and large, or lumpy. The most common explanation for this is that firms face non-convex physical adjustment costs. The model developed in this paper shows that information costs make investment lumpy at the micro level, even in the absence of non-convex adjustment costs. When collecting and processing information is costly, the firm optimally chooses to do it sporadically and to be inactive most of the time. This behavior results in infrequent and possibly large capital adjustments. The model fits plant-level investment rate moments well, and it also matches some higher order moments of aggregate investment rates.
Schlagwörter: 
investment dynamics
information costs
inattentiveness
lumpy investment
JEL: 
D21
D83
D92
E22
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-952-6699-34-9
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe





Publikationen in EconStor sind urheberrechtlich geschützt.